CIBC Smart Start Chequing Account

Looking for comprehensive insights on the CIBC Smart Start Chequing Account? Welcome to Responsible Economy, your go-to source. Here, we cover all the essentials, from fees and requirements to interest rates. Moreover, we’ll contrast it with other top chequing accounts in Canada. Let’s get started!

Features

In this section, you can see all the features offered by the CIBC Smart Start Chequing Account:

Fees

Individuals under 25 years old don’t have to pay monthly maintenance fees. It’s an account designed for young people.

Rates

The CIBC Smart Start Chequing Account does not offer interest on the funds maintained within the account.

Welcome bonus

Earn up to $125 with the CIBC Smart Start account:

  1. Open a CIBC Smart Start account.
  2. Within 2 months:
    • Earn $25 by providing your email and depositing money.
    • Earn $50 by setting up an ongoing direct deposit.
    • Earn another $50 by completing one of the following in a single month:
      • Set up 2 ongoing pre-authorized debits.
      • Make 2 online bill payments of $50 or more each.
      • Conduct 5 Visa Debit purchases.

Minimum deposit

To open a CIBC Smart Start Chequing Account, there’s no initial deposit needed.

Transactions per month

You have unlimited transactions without fees.

ATMs

One free non-CIBC ATM withdrawal in Canada per month.

Interac e-Transfer transactions

The CIBC Smart Start Chequing Account includes unlimited Interac e-Transfer transactions at no charge. This is a convenient way to send and receive money electronically.

Overdraft service

CIBC no provides information.

Summary table

Here you have a summary table with all features:

FeatureDetails
Monthly fee$0
Interest Rate0%
Interac e-Transfer transactions$0
Wire TransfersNo provides information
Minimum Deposit$0
ATMs0$
Bonus$150
Overdraft ServiceNo provides information
The CIBC Smart Start Chequing Account

Comparison with the best chequing accounts

We have compared the best chequing accounts you can open in Canada with the CIBC Smart Start Chequing Account:

Logo BMO Canada
  • $0 monthly fee with $4,000 balance.
  • Welcome bonus up to $450.
  • Unlimmited transactions.
  • More than 2,200 ATMs in Canada
TD Bank logo Canada
  • $0 monthly fee with $5,000 balance.
  • Welcome bonus up to $450.
  • More than 2,600 ATMs in Canada.
  • Unlimmited transactions.
RBC logo
  • $5-16,95 monthly fee.
  • Welcome bonus up to $599.
  • More than 4,200 ATMs in Canada.
  • Unlimmited transactions.
National Bank of Canada Logo
  • $0 monthly fee with $6,000 balance.
  • More than 2,300 ATMs in Canada.
  • No Welcome bonus.
  • Unlimmited transactions.

Requirements

To qualify for the CIBC Smart Start Chequing Account, you must:

  • Reside in Canada.
  • Be under 25 years old.
  • Possess a valid Social Insurance Number (SIN).

Pros and cons

Here is a table summarizing the advantages and disadvantages of the CIBC Smart Start Chequing Account:

AdvantagesDisadvantages
No monthly feeLow interest rates
Free e-Transfers
CIBC credit card with annual fee rebate
CIBC Smart Balance Alert
Advantages and disadvantages of the CIBC Smart Start Chequing Account

Conclusion and opinions

After our review, our opinion is that the CIBC Smart Plus Checking Account is a competitive option provided you maintain a balance above $6,000. By doing so, you avoid maintenance fees, can qualify for a $350 bonus, withdraw money without fees from ATMs worldwide, and benefit from unlimited transactions. On the other hand, if you don’t maintain a $6,000 balance, it’s important to note that the monthly fees are quite high.

Frequent questions

Here, we answer all the questions about CIBC Smart Start Chequing Account:

Other CIBC products

We’ve also provided a list of all the CIBC products we have analyzed:

Interesting information about CIBC

We have created a table with relevant information about CIBC:

InformationDescription
Websitehttps://www.cibc.com/
Twitterhttps://twitter.com/cibc
Facebookhttps://www.facebook.com/CIBC/
YouTubehttps://www.youtube.com/user/CIBCVideos
Linkedinhttps://www.linkedin.com/company/cibc/
Interesting information about CIBC

To conclude, you have more related content about chequing accounts:

Actualizado el día 15 September, 2023 por Alfredo Barandiarán

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